Lossless data compression is essential for numerous types of systems including communication, multimedia, information retrieval, storage, inter chip and intra chip Communication, and computer networks. In some situations, lossless data compression may be utilized to reduce data transmission bandwidth and/or the memory required to store and manage data in computer systems. Conventional approaches to lossless data compression are either computationally expensive or fail to produce high compression ratio along with high throughput at low latency.